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MARKETS LIVE BLOG:

STOCKS SLIP AS WAIT FOR NVIDIA EARNINGS NEARS END

Target issues weak forecast as shoppers pull back on spending; shares tumble

Scotts (SMG) Reports Q2 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·2 min read

For the quarter ended March 2024, Scotts Miracle-Gro (SMG) reported revenue of $1.53 billion, down 0.4% over the same period last year. EPS came in at $3.69, compared to $3.78 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $1.5 billion, representing a surprise of +1.81%. The company delivered an EPS surprise of +10.15%, with the consensus EPS estimate being $3.35.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how Scotts performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net Sales- U.S.Consumer: $1.38 billion compared to the $1.33 billion average estimate based on five analysts. The reported number represents a change of +1.7% year over year.

  • Net Sales- Corporate & Other: $79.20 million compared to the $81.03 million average estimate based on five analysts. The reported number represents a change of -2.7% year over year.

  • Net Sales- Hawthorne: $66.40 million compared to the $84.17 million average estimate based on five analysts. The reported number represents a change of -28.4% year over year.

  • Segment Profit (Loss) (Non-GAAP)- U.S. Consumer: $385.70 million versus $229.52 million estimated by three analysts on average.

  • Segment Profit (Loss) (Non-GAAP)- Hawthorne: -$3.40 million versus the three-analyst average estimate of -$6.71 million.

  • Segment Profit (Loss) (Non-GAAP)- Other: $6.40 million compared to the $5.79 million average estimate based on three analysts.

  • Segment Profit (Loss) (Non-GAAP)- Corporate: -$35.70 million versus the two-analyst average estimate of -$41.96 million.

View all Key Company Metrics for Scotts here>>>

Shares of Scotts have returned -5.2% over the past month versus the Zacks S&P 500 composite's -4.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research